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how will washington break the fiscal cliff stalemate? if they do, joining us from capitol hill, maxine waters, democrat from california. soon to be the ranking member of the house committee on fanl services. she will be succeeding representative barney frank as ranking member there as he retires. ms. waters, good to have you with us. >> thank you. delighted. >> i with a just asking aemon if he thought that tenor of the negotiations darkened over the last 48 hours with regard to the fiscal cliff. do you agree with that? >> i don't know. but i do know we haven't made any progress. from time to time, we've heard encouraging words but then the next day when it is time to report out what happened, nothing has happened. it does not appear that there have been any changeets, any progress has been made. so, as is being said, a moment ago. members of congress are prepared to be here during christmas holidays if we have to. >> when members go home for the weekend, back to their district, many traveling at taxpayer expense during this kind of envir
how will washington break the fiscal cliff stalemate? if they do, joining us from capitol hill, maxine waters, democrat from california. soon to be the ranking member of the house committee on fanl services. she will be succeeding representative barney frank as ranking member there as he retires. ms. waters, good to have you with us. >> thank you. delighted. >> i with a just asking aemon if he thought that tenor of the negotiations darkened over the last 48 hours with regard to the...
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. >>> fiscal cliff clock is ticking and throwing a real wrench into the economy. but one ceo is ratcheting up pressure on washington to get a deal done. let's bring in nick, ceo of snap on tools. he is in town for the yale summit. welcome. >> kb g to be with you. >> why is it so important to get a deal done specifically for your company. >> well, if we good over the fiscal cliff, it can't be good. and of course that ratchets up uncertainty. i think one of the things you can talk about the fed, talk about interest rates, but someone once said or someone said recently, it is a psychology, stupid. when we call on our customers, we see that most important thing is their psychology and getting a deal dpun would help that. >> how would that materially effect your company? would it change your hiring plans? >> i think it can. i think the thing do, if we go off the fiscal cliff, i don't know what depth of that effect would be, but couldn't be good. but we have seen that movie before. we went through recession probably the most whithering so i think ceos, at least our view
. >>> fiscal cliff clock is ticking and throwing a real wrench into the economy. but one ceo is ratcheting up pressure on washington to get a deal done. let's bring in nick, ceo of snap on tools. he is in town for the yale summit. welcome. >> kb g to be with you. >> why is it so important to get a deal done specifically for your company. >> well, if we good over the fiscal cliff, it can't be good. and of course that ratchets up uncertainty. i think one of the things...
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be sure to tune in tomorrow for c innocence's special fiscal cliff coverage, live from washington. mission critical, rise above d.c., all day long, of course, becky, jim cramer, brian sullivan, maria will be holding lawmakers' feet to the fire in direct interviews about where they stand on the fiscal cliff and how they'll do their part to rise above partisan politics and reach a deal. earlier on "squawk box," erskine bowles, the co-founder of the fix the debt campaign, co-chair of fiscal responsibility and reform was asked about the progress he thinks both sides were making. >> i think the atmospherics are getting so much better. we've kind of gotten out of the ka kooky theater and gone to dancing the tango with those two guys. any time you start to tango you got a chance. >> joining us this morning from newton, mass, greg manke, economic adviser to the romney campaign, former chair of economic advisers under george w. bush now an economics prof s professor at harvard and ron johnson, director at the institute for new economic thinking and a senior fellow at the roosevelt institute
be sure to tune in tomorrow for c innocence's special fiscal cliff coverage, live from washington. mission critical, rise above d.c., all day long, of course, becky, jim cramer, brian sullivan, maria will be holding lawmakers' feet to the fire in direct interviews about where they stand on the fiscal cliff and how they'll do their part to rise above partisan politics and reach a deal. earlier on "squawk box," erskine bowles, the co-founder of the fix the debt campaign, co-chair of...
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. >> announcer: america, we're on the edge of the fiscal cliff. billions are at stake and your money hangs in the balance. while washington quarrels with itself, time for washington to put differences aside and put real compromise on the table. rise beyond disparity, rise past adversity, rise above. this is a cnbc special report "mission critical, rise above d.c." >> and the mission continues at 2:00 eastern time. welcome everybody i'm brian sullivan along with mario bartiromo. this is our special all day coverage live from capitol hill, mission critical, rise above d.c. after candid interviews with lawmakers all morning long, this is what we know now. just last hour representative lee terry, republican from nebraska tells us he feels like discussions on spending cuts are going backwards. early in the morning, democratic senator conrad, about to finish his term, sees says optimistic a deal will get done but would like to see a whole lot more added to it, a $4 trillion big deal, as he calls it. >> yes, he did. earlier this afternoon, a key word fro
. >> announcer: america, we're on the edge of the fiscal cliff. billions are at stake and your money hangs in the balance. while washington quarrels with itself, time for washington to put differences aside and put real compromise on the table. rise beyond disparity, rise past adversity, rise above. this is a cnbc special report "mission critical, rise above d.c." >> and the mission continues at 2:00 eastern time. welcome everybody i'm brian sullivan along with mario...
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cliff? joining us, david, great to have you with us. >> thank you. >> hold on, thelma. hold on louise. can will markets handle it? >> i think we can handle it. it seems to me that washington has a way of doing business and washington will continue to change the way -- or continue to do business the way they have always done it. where is us and wall street, we have to change the way we do business. >> so you don't see a big crash in markets as a fall off the cliff. >> no. i see opportunities for people who are less patient. no, i see it all going down. >> where are your clients moving their money? what are you advising them to do, whether we get a deal or not? are there two completely different strategies? >> there is various things on a similar attitude. big is not always good. i think what we are doing is consolidating and moving towards a smaller environment. i think we have smaller investors who can deliver returns. >> what do you mean by that? types of funtds they are investing in. >> th
cliff? joining us, david, great to have you with us. >> thank you. >> hold on, thelma. hold on louise. can will markets handle it? >> i think we can handle it. it seems to me that washington has a way of doing business and washington will continue to change the way -- or continue to do business the way they have always done it. where is us and wall street, we have to change the way we do business. >> so you don't see a big crash in markets as a fall off the cliff....
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economy over the fiscal cliff n about an hour's time, house speaker bain letter tell us exactly where the republican party now stands. a new "wall street journal"/nbc poll shows what the public thinks. john har wood is in washington, d.c. with the details on that welcome to the program, john. i would expect that two-thirds of americans might say, the cnbc slogan goes, rice above what is interesting here, the majority of you republicans, 59% say do a deal and 61% of republicans say it is okay to raise tax on those earning more than $250,000. >> well, exactly. what we have seen is that the public has absorbed the idea that the fiscal cliff and going over it would be a very bad thing to do they are looking at what the least bad alternatives r if you look at the "wall street journal" poll, you can see that president obama has the upper harden this in defining what those alternatives -- least bad altern trip. first of all, yet of who do you trust, 38% say they trust president obama to handle the fiscal cliff. that's twice as many as, say, speaker boehner. 14% say both equally. 28% say they
economy over the fiscal cliff n about an hour's time, house speaker bain letter tell us exactly where the republican party now stands. a new "wall street journal"/nbc poll shows what the public thinks. john har wood is in washington, d.c. with the details on that welcome to the program, john. i would expect that two-thirds of americans might say, the cnbc slogan goes, rice above what is interesting here, the majority of you republicans, 59% say do a deal and 61% of republicans say it...
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on the fiscal cliff. what do you make of that? are we becoming complacent? are we immune? what are you talking about on the floor? >> we just had the president speak. nothing there. china numbers tomorrow. then germany. maybe nothing there. i think everybody wants to fast forward to tuesday. they want to see what happens after operation twist expires. they want to see what bernanke said at 2:00. that's what we're looking at. >> we're always waiting around for something to happen. and if you wait around and climb this wall of worry, right, don't you sometimes miss out? >> i think you're right. and i think that we do expect something here this wednesday. and if we don't get that $45 billion a month program that actually creates money supply, i think you might see a little selloff. but i think it's priced in at this point. so i think we do have a big question mark here. but it may be answered this week. i think that's what traders are focused on. it's a big last three days after a quiet two days this week. >
on the fiscal cliff. what do you make of that? are we becoming complacent? are we immune? what are you talking about on the floor? >> we just had the president speak. nothing there. china numbers tomorrow. then germany. maybe nothing there. i think everybody wants to fast forward to tuesday. they want to see what happens after operation twist expires. they want to see what bernanke said at 2:00. that's what we're looking at. >> we're always waiting around for something to happen....
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good rally under way on hopes of a compromise on the fiscal cliff stalemate in washington. eamon javers standing by in a moment with information on a bipartisan letter from lawmakers that's. putting tax hikes and entitlement cuts firmly on the table. >> i'm bill griffeth. let's show you, and the charts tell the day's story, as it usually does. can you get when the president began speaking at business round table and we learned that at least 40 house republicans are breaking ranks to talk about anything, all possibilities as they said in an open letter. right now the dow is up 110, near the highs of the day. 13,062.59. the nasdaq is going the other direction. blame apple and overall technology having a tough day. down 13 points right now on the nasdaq at 2982. the s&p is holding with a gain of about five points. we'll have more on the markets in a moment. first, let's get to what's going on in washington. more republicans breaking ranks to join what we hope will be a bipartisan call for higher tax rates and entitlement cuts. eamon javers on capitol hill has the very latest d
good rally under way on hopes of a compromise on the fiscal cliff stalemate in washington. eamon javers standing by in a moment with information on a bipartisan letter from lawmakers that's. putting tax hikes and entitlement cuts firmly on the table. >> i'm bill griffeth. let's show you, and the charts tell the day's story, as it usually does. can you get when the president began speaking at business round table and we learned that at least 40 house republicans are breaking ranks to talk...
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the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a good
the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime,...
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. >>> still a stalemate over the fiscal cliff on capitol hill. house speaker baner making comments earlier. meanwhile, a new poll out today on the cliff, economy and our leaders in washington. john harwood live at the wlous with more on that, john, over to you. >> reporter: sue, we will have full details tonight after 6:30 p.m. but for now, we've got one early release question which the results will not come as a surprise to anybody on our network because the desire by the public for law makers in washington to make a deal is very strong. when we ask people, do you want both sides to compromise on their positions, even if that means cuts in social security and higher taxes, or do you want them to stick to their position, 65% of the american people say they want both parties to compromise only 28% say stick to your positions. that is very consistent with the desire on wall street. and it is on main street as well, to get something done. and as you mentioned, sue, there has not been much external signs of a deal. though we did have an exchange of o
. >>> still a stalemate over the fiscal cliff on capitol hill. house speaker baner making comments earlier. meanwhile, a new poll out today on the cliff, economy and our leaders in washington. john harwood live at the wlous with more on that, john, over to you. >> reporter: sue, we will have full details tonight after 6:30 p.m. but for now, we've got one early release question which the results will not come as a surprise to anybody on our network because the desire by the public...
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i mean, the fiscal cliff we're watching very, very closely. obviously yesterday, you said it joe, yesterday's moves were exceptionally bold. the markets kind of look through them. i think the markets are trying to digest what exactly it means. and how the fed is really going to behave going forward and what the 6.5% means. we're very, very focused on these issues, too. >> you're back here in new york. so we didn't get you up at 5:00 in the morning. all right. neel, thank you. >> thanks very much. >> we'll see you. >> coming up, gm set to unveil two new pickup trucks. cnbc's phil lebeau going to join us next with president of gm north america. and at the bottom of the hour, the government's latest read on employment, inflation, and the consumer. we're going to get jobless claims, ppi and retail sales numbers. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. [ male announcer ] i have obli
i mean, the fiscal cliff we're watching very, very closely. obviously yesterday, you said it joe, yesterday's moves were exceptionally bold. the markets kind of look through them. i think the markets are trying to digest what exactly it means. and how the fed is really going to behave going forward and what the 6.5% means. we're very, very focused on these issues, too. >> you're back here in new york. so we didn't get you up at 5:00 in the morning. all right. neel, thank you. >>...
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over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gains taxes and dividend taxes going much higher. what will that do to the investor class, to the entrepreneurialism that we're seeing? what is the impact? >> well, it's amazing impact. short-term wise, people started to leave france. you heard about 75% tax on revenues above 1 million euros. it's not that many people, of course, but it's a signal sent to people. much more important than that, it's what has been announced and what will be implemented next year on dividends and capital gains. this is a signal to the young generation when it wi
over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gains taxes and...
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. >>> corporate news, walmart ceo mike duke says the fiscal cliff debate is having an impact on consumers. speaking to the council on foreign relations in new york, duke says what's going on in washington could affect their holiday shopping plans. >> the week before the election, only 1/4, 25% of our core customers even knew what fiscal cliff meant. okay? one week after the election, it was up to 75%. now these same customers, 15% of our customers are telling us this discussion about fiscal cliff will affect what they spend on christmas. >> and most americans aren't close to finished with holiday shopping yet. giving retailers a hope for a big boost in the last few weeks beforesom christmas. 58% of those surveyed said they completed half or less of their holiday shopping so far. i've got a little guilt on that front. >>> joining us for more, global ceo of sanrio. welcome. waving to the world there. >> yes. >> happy holiday. >> wearing your brand, as well. >> happy holiday from mr. mann. >> we should point out that mr. men is a key part of your strategy which is changing, is it not? >> exa
. >>> corporate news, walmart ceo mike duke says the fiscal cliff debate is having an impact on consumers. speaking to the council on foreign relations in new york, duke says what's going on in washington could affect their holiday shopping plans. >> the week before the election, only 1/4, 25% of our core customers even knew what fiscal cliff meant. okay? one week after the election, it was up to 75%. now these same customers, 15% of our customers are telling us this discussion...
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to reach a deal on the fiscal cliff. but use that debate as an economic one, says our next guest. chairman of the council of economic advisers under george w. bush and adviser to presidential candidate mitt romney. he's in new york city this morning. glenn, great to see you. >> good morning. likewise. >> what exactly does that mean? because of the context of higher taxes, and spending cuts, you would think there would be an economic impact. how can it not involve economics? >> well, there's certainly an economic impact. my point was just that the real issue for us is that our budget rules were designed for a different set of problems. you know, historically, movements in debt were about war and peace. you borrowed money to fight a war, you paid it off in peace time. now we're talking about the rise of the entitlement states. social security and medicare. we need different budget rules. this isn't just about a fiscal cliff. >> the demographics don't exactly help the problem either. we're in a time when the population is g
to reach a deal on the fiscal cliff. but use that debate as an economic one, says our next guest. chairman of the council of economic advisers under george w. bush and adviser to presidential candidate mitt romney. he's in new york city this morning. glenn, great to see you. >> good morning. likewise. >> what exactly does that mean? because of the context of higher taxes, and spending cuts, you would think there would be an economic impact. how can it not involve economics? >>...
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all day long we are here in washington holding lawmakers' feet to the fire on the fiscal cliff. here's what we know right now. in terms of some of the moments from this morning, senator mark warner from virginia saying compared to the size of our economy and the drastic steps that have been taken in other countries the current proposals are relatively small and government should just step up and get a deal done. senator bob corker, though, hesitant about signing any deal if there's not some sort of agreement about increasing revenue. he says there's no guarantee enough will be done about entitlements down the road. and as he looks in on the process, grover norquist maintains there's no better reason to raise taxes now than there was in the past. it all gets down to a pretty stiff standoff. carl, we've been watching this this morning. we've been saying all day long that this is the time to be optimistic because both camps, the prince pipals on both sides had gone somewhat silent. we had not heard the same posturing, rhetoric thrown out. now we are getting word speaker boehner wil
all day long we are here in washington holding lawmakers' feet to the fire on the fiscal cliff. here's what we know right now. in terms of some of the moments from this morning, senator mark warner from virginia saying compared to the size of our economy and the drastic steps that have been taken in other countries the current proposals are relatively small and government should just step up and get a deal done. senator bob corker, though, hesitant about signing any deal if there's not some...
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cliff. >> you think the can will be kicked down the road. >> well, i think washington learned its lessons from the credit crisis. they are not going to have this go over the cliff, and i think it's going to be a recipe of a small part of cutting spending. a small part of raising taxes and a healthy doze of kicking the gan down the road. >> you would be so sure that these guys cannot do it when in fact here we are 18 days away. steve sax from your standpoint in, terms of etfs and in terms of indexing out there, how do you want to invest given all of these uncertainties as we approach year end? >> i'm in the camp i certainly hope we can avoid the fiscal cliff, but right now i don't have a lot of confidence. we're still seeing a lot of flows in several different areas. certainly domestic equities and emerging markets have been key areas. we're still seeing that risk appetite strangely enough, even with all the uncertainty out there. that being said, we're seeing a lot of people and having a lot of conversations about hedging exposure, particularly in domestic equities and also seeing a lot o
cliff. >> you think the can will be kicked down the road. >> well, i think washington learned its lessons from the credit crisis. they are not going to have this go over the cliff, and i think it's going to be a recipe of a small part of cutting spending. a small part of raising taxes and a healthy doze of kicking the gan down the road. >> you would be so sure that these guys cannot do it when in fact here we are 18 days away. steve sax from your standpoint in, terms of etfs...
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. >> but the fiscal cliff still looms. cnbc has called on lawmakers to rise would have gridlock and reach a deal. now, we're beating down their doors. live from our nation's capital, this is a cnbc special report, "mission critical, rise above d.c." >> well, the stock market riding the ups and doups of the fiscal cliff negotiations. roger altman is former treasury official under president clinton. he says he's optimistic that a deal is coming. the question, of course, is when. joining me from new york is roger altman. always nice to have you on the program. let welcome back. >> hi, how are you? >> you think a chance of getting a deal will increase and harry reid says he's pessimistic that had t will get done before christmas. what do you think? >> the financial markets themselves are becoming more optimistic, and i think that's a strong signal. second, i think the atmospherics, and senator reid's statement is just part of that, are suggesting that there's some movement and some progress, and thirdly, i'm particularly impre
. >> but the fiscal cliff still looms. cnbc has called on lawmakers to rise would have gridlock and reach a deal. now, we're beating down their doors. live from our nation's capital, this is a cnbc special report, "mission critical, rise above d.c." >> well, the stock market riding the ups and doups of the fiscal cliff negotiations. roger altman is former treasury official under president clinton. he says he's optimistic that a deal is coming. the question, of course, is...
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and then the fiscal cliff blame game, new data on who americans blame for the gridlock in washington plus is congressional leadership holding up negotiations in d.c.? former senator, co-chair of the campaign to fix the debt judd gregg is here with his take on that. the death cross is on for what was once the favorite name apple, shares rebounding back to 547. is this finally the opportunity to get in? alex gauna is an analyst with jmp securities. good to have you with us. >> good morning, thank you. >> a lot of discussion how technically some defenders say apple is exacting exactly as it should. do you see it that way? >> technically i think the dangerous thing is this stock forms a head and shoulders and i don't know where the support comes in, somewhere in the 400s. that's a key risk to the stock. i focus on the fundamentals. it's worrisome in the near term for apple. when there's a lot behind that, the relationship with samsung the frenemy relationship has gone to enemy. also the closing competitive gap between apple and rival products out there, so many of those that have subsidi
and then the fiscal cliff blame game, new data on who americans blame for the gridlock in washington plus is congressional leadership holding up negotiations in d.c.? former senator, co-chair of the campaign to fix the debt judd gregg is here with his take on that. the death cross is on for what was once the favorite name apple, shares rebounding back to 547. is this finally the opportunity to get in? alex gauna is an analyst with jmp securities. good to have you with us. >> good morning,...
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it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that. hopefully that momentum will continue not just on the fiscal cliff in the coming weeks but issues like the start-up act 2.0 in the coming months. >> gentlemen, look good. steve and scott, come back and let us know how it went in cowboy stadium. >>> google plans to start charging small businesses for its free services like e-mail and google docs. will consumers like you be next? >>> and from 50 stradz of grshaf gray to 5,000 shades of green. employees at random house getting a big stocking stuffer this season. we'll explain. ears, ameriprise finan
it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that....
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where exactly do we stand in these fiscal cliff negotiations in the latest now from our john harwood, on your stomping ground. good to see you both. what do you make of this comment from harry redd, john, saying it's unlikely we get a deal by christmas? are they posturing? they don't want to put their spending cuts on the table but want the republicans to. is this posturing? >> i think it's posturing. jay carney gave a white house briefing saying i'm not going to reveal anything about the status of the talks in negotiation beyond the fact that they took place. the support trying to hammer republicans publicly. he's got the high side public opinion on this. traveled to michigan yesterday. john boehner went on the floor and said i need to see their spending cuts. that's what's going on in the public level. privately staff are working together and the fundamentals remain in place for a deal. don't know if it's before or after christmas or before new years or just after it, but i believe will happen. >> all the vacations are planned, right? >> we've reached one of the weirdest days becaus
where exactly do we stand in these fiscal cliff negotiations in the latest now from our john harwood, on your stomping ground. good to see you both. what do you make of this comment from harry redd, john, saying it's unlikely we get a deal by christmas? are they posturing? they don't want to put their spending cuts on the table but want the republicans to. is this posturing? >> i think it's posturing. jay carney gave a white house briefing saying i'm not going to reveal anything about the...
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did the exclusive interview you just saw move the needle in terms of the fiscal cliff being any closer to a deal? chief washington correspondent john harwood watching this event closely. john. >> reporter: i think what we saw in that interview that steve had was further confirmation of the fundamental outlines in the administration's strategy. one, rates have to go up. they're trying to break republicans on the issues of rates. although, they're not insisting that rates go all the way up to 39.6. you could see something in between. the second thing is they're taking a very hard line on the debt limit. the president said in remarks today to the business round table he has some cover from business on that because they don't want to see that limit that could be damaging to the u.s. credit raiting. the combination of those two things are the fundamental levers the administration is going to try to use to force republicans to compromise. then the compromising from the administration will come on the issues of entitlements, medicare, social security is, and medicaid. >> all right, jauohn. th
did the exclusive interview you just saw move the needle in terms of the fiscal cliff being any closer to a deal? chief washington correspondent john harwood watching this event closely. john. >> reporter: i think what we saw in that interview that steve had was further confirmation of the fundamental outlines in the administration's strategy. one, rates have to go up. they're trying to break republicans on the issues of rates. although, they're not insisting that rates go all the way up...
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we have to love the fiscal cliff. the leaders i talked to today know their actions will take us over a cliff. i understand there is now perception among the media. the no tax increase republican ares regard the stance as a birthright. a guy that is so anti-spend that he seemed to care more on these issues and more about the accountability for the disaster relief money. i can't believe that. but a lot of guys down there will do anything to prove a point. but i can tell you there are enough garrets to force us over the cliff. given that the garrets are over there. got a question either people don't know about the cliff or they believe that the deal will be done. and they that they have fulfilled the nor quist pledge. where were the republicans when they cut taxes from the chinese two, why didn't republicans press for spending cuts when the president extended the tax cuts? and why doesn't the president offer spending cuts to medicare and defense and social security? how about weapons programs that don't fit in the terror
we have to love the fiscal cliff. the leaders i talked to today know their actions will take us over a cliff. i understand there is now perception among the media. the no tax increase republican ares regard the stance as a birthright. a guy that is so anti-spend that he seemed to care more on these issues and more about the accountability for the disaster relief money. i can't believe that. but a lot of guys down there will do anything to prove a point. but i can tell you there are enough...
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. >>> speaking of the fiscal cliff, walmart ceo mike duke says the fiscal cliff debate is having an impact on consumers. speaking to the council on foreign relations last night, duke said what's going on in washington is affecting his customers' holiday shopping plans. >> the week before the election, only 1/4, 25% of our core customers even knew what fiscal cliff meant. one week after the election, it was up to 75%. now these same customers, 15% of our customers are telling us this discussion about fiscal cliff will affect what they spend on christmas. >> walmart shares trading near a 52-week high. i was at the event last night. there were -- >> you were? >> uh-huh. >> what was it? >> the council on foreign relations. >> really? >> i'm a member. >> yeah. you're kidding me. >> no. >> that's why you're our international correspondent probably. >> yeah. >> you got the chops. you got the -- >> yeah. there were 100 protesters outside last night. and i asked every single one udo you work at walmart. not one worked at walmart. i was just -- >> who were they? >> a lot -- looked like college stude
. >>> speaking of the fiscal cliff, walmart ceo mike duke says the fiscal cliff debate is having an impact on consumers. speaking to the council on foreign relations last night, duke said what's going on in washington is affecting his customers' holiday shopping plans. >> the week before the election, only 1/4, 25% of our core customers even knew what fiscal cliff meant. one week after the election, it was up to 75%. now these same customers, 15% of our customers are telling us...
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summers thinks of the fiscal negotiations in washington. he'll rise above with becky and joe. maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ female announcer ] introducing u the latest coffee machine from nespresso. modular. intuitive. combines espresso and fresh milk. the new u. nespresso. what else? available at these fine retailers. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. [ male announcer ] break from the holiday stress. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges
summers thinks of the fiscal negotiations in washington. he'll rise above with becky and joe. maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ female announcer ] introducing u the latest coffee machine from nespresso. modular. intuitive. combines espresso and...
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long term for us as a decade. >> let me ask you about the fiscal cliff. certainly a topic we've been speaking about on a daily basis and many times during the day. we've just gotten comments yet again from mr. boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our business is, it's a relatively low barriers to entry. consumers can buy the luxury of our beauty for $17, $18, $25, $30. this is not a huge investment. and so we're finding a lot of consumers are finding their way into beauty because they don't want to spend $1,000, $2,000 or $3,000 on very luxurious, larger items like a handbag or a new car, for example. so beauty has
long term for us as a decade. >> let me ask you about the fiscal cliff. certainly a topic we've been speaking about on a daily basis and many times during the day. we've just gotten comments yet again from mr. boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some...
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>>> and we're talking real estate and the fiscal cliff with dolly lens. but first, let's get straight to our top story, and that is the haggling in washington, d.c. president obama's meeting with house speaker john boehner this hour. john, what should we expect? >> we expect the meeting to last something less than an hour between the speaker and the president of the united states. a republican leadership aide told me the meeting is taking place because a shakeup is required in budget talks, given the inflexibility of the white house. question is going to be, what is that shakeup? the speaker wants and republicans have been the demanding more details from the white house on potential cuts and entitlement programs. the white house has shown no willingness to go further than they've already gone and they are winning this argument in terms of public opinion. so, another possibility for a shakeup is for republicans to some how give ground and we'll see whether that happens on decoupling top tax rates, 98% of american families. we're going to have to see what h
>>> and we're talking real estate and the fiscal cliff with dolly lens. but first, let's get straight to our top story, and that is the haggling in washington, d.c. president obama's meeting with house speaker john boehner this hour. john, what should we expect? >> we expect the meeting to last something less than an hour between the speaker and the president of the united states. a republican leadership aide told me the meeting is taking place because a shakeup is required in...
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. >>> to washington now. the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown districts. a lot of folks focused on this negotiation right now but the reality is that the negotiations are taking place among just a very few, very high level people. i was talking to a few rank and file members yesterday who said they were frustrated there is not a whole lot for them to do, they are just sitting around here waiting for some break-through in these negotiations. they want something to do on the floor, in their offices and there is not much for them to sink their teeth into. now they're going into their district. leadership is goi
. >>> to washington now. the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed...
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we are monitoring fiscal cliff talks. it's been radio silence from democrats and republicans in washington. they're sticking to preagreed upon talking points explaining that lines of communication are open. we don't know what it is speaker baner and barack obama are hashing out behind closed doors but more republicans are gravitating to the idea of compromising on a tax rate increase so long as they can get what they want for spending and entitlement cuts. listen. >> those rates are going up. we either act now to keep them from going up from as many people as possible or they will go up on everyone. that's a disaster. let's recognize reality, take care of as many people as we can. >> meanwhile, you're right. the president was in detroit where he continued his outside-inside game of running a campaign-style effort to jin up popular support for the fiscal cliff. because he was in michigan he took a whack at the proposed legislation -- the so-called right to work legislation. listen to the president. >> these so-called right
we are monitoring fiscal cliff talks. it's been radio silence from democrats and republicans in washington. they're sticking to preagreed upon talking points explaining that lines of communication are open. we don't know what it is speaker baner and barack obama are hashing out behind closed doors but more republicans are gravitating to the idea of compromising on a tax rate increase so long as they can get what they want for spending and entitlement cuts. listen. >> those rates are going...
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compromise that's going to allow us to avoid the fiscal cliff? and if that's true, we think that's not only good for the u.s. economy, we also think that's positive for the global economy. >> have you weighed in in washington? did the leaders know your view on things? >> yeah, i think you saw at the business round table that i participated in that group there was a lot of coverage of it the last day or two. the position we've taken in borrowing your by line, this is a time for legislation, not for vacation. and it is critical that we get this compromise done. it's not about declaring winners and losers, it's about finding a solution for the united states which is good for employees and is good for retirees. it's good for investment and takes care of the unemployed. that can be done. we've done this before. we believe that we need to all bring our pressure and our support to our elected officials to get that deal done before year end. >> do you think that there's any real commitment to cutting spending by the president? >> i believe that all the p
compromise that's going to allow us to avoid the fiscal cliff? and if that's true, we think that's not only good for the u.s. economy, we also think that's positive for the global economy. >> have you weighed in in washington? did the leaders know your view on things? >> yeah, i think you saw at the business round table that i participated in that group there was a lot of coverage of it the last day or two. the position we've taken in borrowing your by line, this is a time for...
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fiscal cliff crisis. joining us is jeff solomon, ceo of cowen and company. are we 50/50? where are we? >> i think, let's talk about what we think probably does get done. i think a grand bargain is absolutely off the table. i don't see how that happens in such a short time. >> what about a bridge to a grand bargain? >> people recognize the severity of the situation. i think we still need to get through the election or the post election haze. i would say that -- to everybody, listen, we're no longer running for office here. this is about getting back down to brass tacks and figuring out how to solve it. >> which side is not campaigning anymore? >> you've got to listen to who's not talking. i think that's -- in washington, it's always who's not talking. >> we haven't really heard much from senate leadership. >> so that's where our deal gets carved out? >> well, when you start to hear some things from the senate leadership, then you'll know we're getting close to getting something done. and right now they're
fiscal cliff crisis. joining us is jeff solomon, ceo of cowen and company. are we 50/50? where are we? >> i think, let's talk about what we think probably does get done. i think a grand bargain is absolutely off the table. i don't see how that happens in such a short time. >> what about a bridge to a grand bargain? >> people recognize the severity of the situation. i think we still need to get through the election or the post election haze. i would say that -- to everybody,...
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if the fiscal cliff has you nervous, this may be some relaxing news. as of midnight last night, washington is now the first state in the united states to legalize marijuana for adult recreational use, but the law is not without complications. jane wells is live in l.a. with more on that story. good morning, jane. >> hi, carl. lighting up in seattle is one thing. figuring out how these laws are going to work is another. pot possession may be legal in washington, but it will be another year before the state sets up the bureaucracy, creating a network of legal growers and retailers. they're going to have to set standards for thc. but what about pricing? the state is hoping to raise $600 million a year for pot and they say it could add 5% to gross state product by 2017. but ktlu reports the state's office of finance management says retail prices and medical pot clinics are already $3er gram higher than street prices and you add in taxes. are people going to pay more if they can get it for less. and in colorado, its pot law goes into effect next month but t
if the fiscal cliff has you nervous, this may be some relaxing news. as of midnight last night, washington is now the first state in the united states to legalize marijuana for adult recreational use, but the law is not without complications. jane wells is live in l.a. with more on that story. good morning, jane. >> hi, carl. lighting up in seattle is one thing. figuring out how these laws are going to work is another. pot possession may be legal in washington, but it will be another year...
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all business all the time. >> industrials to the fiscal cliff. >> exactly. a quick break now. the morning's top stories when we return. that's what we'll have. >> plus the man of the hour, erskine bowles. find out whether he thinks washington can avert economic disaster. the courage to rise above when skwaux box returns. try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ made a retirement plan, they considered all her assets, even those held elsewhere, giving her the
all business all the time. >> industrials to the fiscal cliff. >> exactly. a quick break now. the morning's top stories when we return. that's what we'll have. >> plus the man of the hour, erskine bowles. find out whether he thinks washington can avert economic disaster. the courage to rise above when skwaux box returns. try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put...